5,476 Shares in Align Technology, Inc. (NASDAQ:ALGN) Purchased by Fox Run Management L.L.C.

Fox Run Management L.L.C. purchased a new position in shares of Align Technology, Inc. (NASDAQ:ALGN) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 5,476 shares of the medical equipment provider’s stock, valued at approximately $1,142,000.

Several other large investors have also recently added to or reduced their stakes in ALGN. Picton Mahoney Asset Management boosted its position in Align Technology by 69.9% during the fourth quarter. Picton Mahoney Asset Management now owns 141 shares of the medical equipment provider’s stock worth $30,000 after acquiring an additional 58 shares during the last quarter. Smartleaf Asset Management LLC raised its stake in Align Technology by 9.1% during the fourth quarter. Smartleaf Asset Management LLC now owns 766 shares of the medical equipment provider’s stock worth $158,000 after purchasing an additional 64 shares during the period. Beech Hill Advisors Inc. raised its stake in Align Technology by 0.6% during the fourth quarter. Beech Hill Advisors Inc. now owns 11,632 shares of the medical equipment provider’s stock worth $2,425,000 after purchasing an additional 65 shares during the period. New York Life Investment Management LLC raised its stake in Align Technology by 0.7% during the fourth quarter. New York Life Investment Management LLC now owns 9,406 shares of the medical equipment provider’s stock worth $1,961,000 after purchasing an additional 68 shares during the period. Finally, Wealth Enhancement Advisory Services LLC raised its stake in Align Technology by 1.2% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 7,799 shares of the medical equipment provider’s stock worth $1,626,000 after purchasing an additional 91 shares during the period. 88.43% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms have weighed in on ALGN. Jefferies Financial Group cut their price target on shares of Align Technology from $285.00 to $260.00 and set a “buy” rating on the stock in a research note on Thursday, January 23rd. Leerink Partners raised shares of Align Technology from a “market perform” rating to an “outperform” rating and increased their price target for the stock from $235.00 to $280.00 in a research note on Monday, January 6th. Morgan Stanley cut their price target on shares of Align Technology from $280.00 to $272.00 and set an “overweight” rating on the stock in a research note on Thursday, February 6th. Evercore ISI raised their target price on shares of Align Technology from $240.00 to $260.00 and gave the company an “outperform” rating in a research note on Thursday, February 6th. Finally, Piper Sandler reissued an “overweight” rating and issued a $235.00 target price (down previously from $270.00) on shares of Align Technology in a research note on Tuesday, March 18th. One research analyst has rated the stock with a sell rating, two have given a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $266.73.

Align Technology Trading Down 0.1 %

ALGN opened at $168.61 on Friday. The company has a fifty day simple moving average of $198.78 and a 200 day simple moving average of $216.57. The firm has a market cap of $12.41 billion, a price-to-earnings ratio of 30.06, a PEG ratio of 2.24 and a beta of 1.69. Align Technology, Inc. has a twelve month low of $158.13 and a twelve month high of $331.64.

Align Technology (NASDAQ:ALGN) last released its quarterly earnings results on Wednesday, February 5th. The medical equipment provider reported $1.96 earnings per share for the quarter, missing analysts’ consensus estimates of $2.43 by ($0.47). Align Technology had a net margin of 10.54% and a return on equity of 13.84%. On average, analysts forecast that Align Technology, Inc. will post 7.98 earnings per share for the current fiscal year.

About Align Technology

Align Technology, Inc designs, manufactures, and markets Invisalign clear aligners, and iTero intraoral scanners and services for orthodontists and general practitioner dentists in the United States, Switzerland, and internationally. The company's Clear Aligner segment offers comprehensive products, including Invisalign comprehensive package that addresses the orthodontic needs of younger patients, such as mandibular advancement, compliance indicators, and compensation for tooth eruption; and Invisalign First Phase I and Invisalign First Comprehensive Phase 2 package for younger patients generally between the ages of six and ten years, which is a mixture of primary/baby and permanent teeth.